Portsmouth, New Hampshire Entrepreneur Gets a Business Loan

New HampshireSmall business loans are available to New Hampshire small business owners through the SBA. In this case, a New Hampshire bank provides the loan.

Getting a small business loan in Portsmouth, New Hampshire was a top priority for this small company back in 2003 and, based on their loan application, they were successful in getting an SBA loan from Ocean Bank. Here are the details on this New Hampshire small business loan.

SBA Loan Borrower

COMPANY TYPE: WOOD KITCHEN CABINET AND COUNTERTOP MANUFACTURING
PORTSMOUTH, NH 03801

SBA Loan Lender

OCEAN BANK
122 WEST ST
KEENE, NH 03431

This was an SBA Express loan. SBA Express Loans allow small business owners to get up to a 50% SBA guaranty on a loan. The maximum amount for an SBA Express Loan is $350,000.

SBA Loan Program Type

This loan was issued under the SBA Fast Track program, which later was renamed the SBA Express loan program.

NAICS Code

337110 - Wood Kitchen Cabinet and Countertop Manufacturing

Loan Approval Date

1/6/2003

Loan Approval Gross Amount

$22,000

Loan Approval from the SBA

Of the total $22,000 loan amount, the SBA guaranteed $11,000.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 4 employees. The loan application indicated that the loan would help retain 4 existing jobs.

Getting an SBA Loan For Your Business

If you want money for new small business in Portsmouth NH, you ought to talk with a local Portsmouth SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Portsmouth businesses.

SBA loan guarantees are not loans per se. The SBA simply guarantees the loan, but banks and other lending institutions grant you the loan and give you the money. So, just as this company walked into Ocean Bank and applied for an SBA loan, you have to do the same thing. You need to demonstrate business strength and potential, but the sooner you start, the faster you'll get the money if you qualify!

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Debt Financing

Small Bank Loans in Keene, New Hampshire

Getting an SBA Loan in New Hampshire